Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Financial Condition

v3.23.2
Condensed Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 55,591 $ 61,149
Restricted cash 265,542 179,764
Loans held for investment, subject to Home Equity Conversion Mortgage-Backed Securities ("HMBS") related obligations, at fair value 16,883,718 11,114,100
Loans held for investment, subject to nonrecourse debt, at fair value 7,928,414 7,454,638
Loans held for investment, at fair value 685,033 907,998
Loans held for sale, at fair value 53,500 173,984
Mortgage servicing rights ("MSR"), at fair value, $0 and $60,562 subject to nonrecourse MSR financing liability, respectively 9,456 95,096
Fixed assets and leasehold improvements, net 8,196 9,131
Intangible assets, net 278,525 297,119
Other assets, net 256,289 266,316
Assets of discontinued operations 124,406 313,360
TOTAL ASSETS 26,548,670 20,872,655
LIABILITIES AND EQUITY    
HMBS related obligations, at fair value 16,665,535 10,996,755
Nonrecourse debt, at fair value 7,796,545 7,343,177
Other financing lines of credit 1,072,113 1,327,634
Payables and other liabilities 273,839 173,732
Notes payable, carrying value 411,784 399,402
Liabilities of discontinued operations 55,119 227,114
TOTAL LIABILITIES 26,274,935 20,467,814
Commitments and Contingencies (Note 18)
EQUITY (Note 24)    
Additional paid-in capital 935,911 888,488
Accumulated deficit (710,381) (634,295)
Accumulated other comprehensive loss (254) (273)
Noncontrolling interest 48,450 150,915
TOTAL EQUITY 273,735 404,841
TOTAL LIABILITIES AND EQUITY 26,548,670 20,872,655
Common Class A    
EQUITY (Note 24)    
Common stock, value 9 6
Common Class B    
EQUITY (Note 24)    
Common stock, value $ 0 $ 0